2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-03 21:17
A bitter discount battle among manufacturers is still raging on the German car market. The discounts have now reached proportions that were previously only common in North America.
The downturn in the German car market is increasingly triggering price discounts. Every third car buyer bought their car cheaper in the first half of 2007, reported the auto expert Ferdinand Dudenhöffer from the Gelsenkirchen University of Applied Sciences. Market studies by his institute would have shown that. The average level of price reductions in July is still at the peak of 17.5 percent and has thus reached a level like in the USA, where discount battles have made life difficult for car manufacturers for years. In Germany, the compact or golf class is most affected.
The German car market is still in bad shape. Due to the high number of campaign approvals, despite the good economic situation, an increased wave of insolvencies in the retail sector can be expected, said Dudenhöffer. The manufacturers' margins would be thinner and business in Germany more difficult. A market recovery can be expected in the next few months. Due to the high stocks, the high discount level will also continue at the IAA in September. In addition, political discussions about CO2 and other environmental issues unsettled car buyers and industry and trade played badly, according to Dudenhöffer. (dpa)
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